Companies in Default/FSCS Claims - Picture, London Scottish, Twopart

marshallka

busbyh wrote: »

You are quite right. they have saved a fortune in interest by transferring it to the mortgage;)

Just a pity it took so much longer though to transfer as each time we wanted to settle they moved the goal posts.:rolleyes: They still had more than just PPI and interest in the end.

pinknico

Nice to see you back busbyh, you were missed. Credit card seems the better one to pay off otherwise it can take longer than the mortgage to pay off and the interest rate probably high.

beaniebabe

To be honest If we do get the whole lot back I have thought of putting the majority of it in a high interest savings account. That way its making a bit (Although not much with todays interest rates) and its there for a rainy day. It would be nice to avoid getting into a financial mess at times.

beaniebabe

Would love to transfer the Picture loan onto my mortgage but I do not think I would be able to add to my mortgage due to being on a DMP and can not think of another mortgage lender who I can transfer to. Does anyone have any idea. I may ask on the other threads.

busbyh

pinknico wrote: »

Nice to see you back busbyh, you were missed. Credit card seems the better one to pay off otherwise it can take longer than the mortgage to pay off and the interest rate probably high.

think you right on that one. It is amazing how long it can take to pay off credit card.(forever)!!!

busbyh

beaniebabe wrote: »

Would love to transfer the Picture loan onto my mortgage but I do not think I would be able to add to my mortgage due to being on a DMP and can not think of another mortgage lender who I can transfer to. Does anyone have any idea. I may ask on the other threads.

They used their original mortgage provider. It took awhile but they managed it in the end;)

beaniebabe

busbyh wrote: »

They used their original mortgage provider. It took awhile but they managed it in the end;)

My mortgage is with Natwest. Would they let me extend it even though I am on a DMP.:rolleyes:

busbyh

beaniebabe wrote: »

To be honest If we do get the whole lot back I have thought of putting the majority of it in a high interest savings account. That way its making a bit (Although not much with todays interest rates) and its there for a rainy day. It would be nice to avoid getting into a financial mess at times.

As you say, interest rates are not very good at the moment, the best would be a fixed rate cash ISA I think,

Although it would be nice to have a bit to one side, I think you would save more in the long run by paying it off either the loan or the mortgage, and reduce your repayments, maybe;)

beaniebabe

busbyh wrote: »

As you say, interest rates are not very good at the moment, the best would be a fixed rate cash ISA I think,

Although it would be nice to have a bit to one side, I think you would save more in the long run by paying it off either the loan or the mortgage, and reduce your repayments, maybe;)

Think you are right Bushbyh;)

busbyh

beaniebabe wrote: »

My mortgage is with Natwest. Would they let me extend it even though I am on a DMP.:rolleyes:

I'm not too sure. They would probably look at the way your finances have been handled since your DMP and take it from there. Nothing to lose by enquiring;)